Bank of America Co. (NYSE:BAC) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP grew its holdings in shares of Bank of America Co. (NYSE:BAC) by 31,021.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,207,900 shares of the financial services provider’s stock after purchasing an additional 10,175,100 shares during the period. Bank of America accounts for 0.9% of Two Sigma Advisers LP’s portfolio, making the stock its 20th biggest position. Two Sigma Advisers LP owned approximately 0.13% of Bank of America worth $405,049,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CX Institutional boosted its holdings in shares of Bank of America by 3.0% during the second quarter. CX Institutional now owns 31,596 shares of the financial services provider’s stock valued at $1,257,000 after acquiring an additional 925 shares during the period. Wolff Wiese Magana LLC boosted its stake in Bank of America by 216.8% during the 2nd quarter. Wolff Wiese Magana LLC now owns 6,576 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 4,500 shares during the period. Atlas Private Wealth Advisors bought a new position in Bank of America in the 2nd quarter worth about $285,000. Gleason Group Inc. increased its stake in shares of Bank of America by 1.3% in the second quarter. Gleason Group Inc. now owns 99,519 shares of the financial services provider’s stock valued at $3,958,000 after purchasing an additional 1,234 shares during the period. Finally, Cypress Wealth Services LLC boosted its position in shares of Bank of America by 7.1% during the second quarter. Cypress Wealth Services LLC now owns 11,001 shares of the financial services provider’s stock worth $438,000 after buying an additional 726 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc sold 3,966,178 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $39.58, for a total transaction of $156,981,325.24. Following the sale, the insider now directly owns 854,214,328 shares in the company, valued at approximately $33,809,803,102.24. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 56,945,263 shares of company stock worth $2,300,620,438 in the last ninety days. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BAC. Morgan Stanley boosted their price target on Bank of America from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Wells Fargo & Company increased their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays boosted their price target on shares of Bank of America from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods upped their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.57.

Bank of America Stock Up 1.4 %

Bank of America stock opened at $47.01 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Co. has a fifty-two week low of $30.44 and a fifty-two week high of $48.08. The firm has a fifty day moving average price of $43.60 and a two-hundred day moving average price of $41.20. The firm has a market cap of $360.70 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 1.58 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, analysts forecast that Bank of America Co. will post 3.27 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 6th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is presently 37.82%.

Bank of America Company Profile

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.